Do you want to build a career that is truly worthwhile? The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable planet. As one of the largest sources of funding and knowledge for developing countries, we help solve the world’s greatest development challenges. When you join the World Bank Group, you become part of a dynamic, diverse organization with 189 member countries and more than 120 offices worldwide. We work with public and private sector partners, invest in groundbreaking projects, and use data, research, and technology to bring tangible and transformative changes around the globe. For more information, visit www.worldbank.org.
The WB Finance & Accounting (WFA) Vice Presidency is responsible for all aspects of the financial reporting and internal control framework for IBRD and IDA, and the extensive Trust Fund/Partnership portfolio of the WB entities. It supports an appropriate fiduciary control framework and administering disbursements for Bank lending and leads the client service function for the WB’s corporate expenses.
Organizationally, WFA is comprised of three departments: (1) Corporate Accounting and Reporting, (2) Trust Funds and Loans, and (3) Financial Controls. In Controller’s our mandate supports both internal and external clients while we focus on delivery, optimization, impact, and people & culture.
WFA Financial Operations (WFAFO) is a business division in WFA and is responsible for the fair recording and reporting of the WBG’s administrative expenses and fixed assets, which have a combined financial statement value of nearly $4.0B. This includes delivering core accounting services, maintaining an effective system of internal controls, and providing strategic leadership on complex business issues pertaining to the following administrative expenses and functions: (i) Travel Accounting, Accounts Payable, Fixed Asset and Lease Accounting, Quality Assurance and Country Office Accounting (together known as WFATA) (ii) Accounts Receivable, Payroll and Tax Allowance Administration and (iii) Helpdesk Operations (WFAAN)
WFA Global Payments is located at Chennai and responsible for processing vendor payments for all HQ units in Washington DC(WFAHP) and around 120+ Country offices(WFAGP). WFAGP team reports functionally to WFATA.
WFAGP is looking to recruit suitable candidates for Term Staff (GD) position in the Global Payments team.
How your contributions will help us achieve our goals
The Term staff will be responsible for the activities below as envisaged for Accounting & Reporting job stream along with processing payments to vendors and staff located at HQ or Country offices. The job requires extensive interaction with HQ (or) the country offices accounting staff, other WBG units and vendors.
What you will do:
• Continuously monitor all GL accounts and prepare periodic reconciliations follow-up with clients and other units on aged and critical items
• Prepare monthly Trial Balance; analyze and explain variances, aged items
• Provide inputs to Management Reporting and Analysis
• Compile and monitor KPIs, metrics monthly – with benchmark data; explain significant variances
• Liaise with Data Analytics team to obtain monthly MIS report; explain major variances
• Liaise with Data Analytics team to develop data analytics/trends needed to support the unit’s adhoc reporting needs; prepare reports, as needed
• Implement relevant accounting policies and KPIs, metrics monthly – with benchmark data; explain significant variances
• Undertake General Ledger Accounting entries and conduct Chart of Account Maintenance activities
• Participate in the user testing (UAT) and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization
• Process payments to staff and vendors within service standards and contractual terms, in accordance with established guidelines.
• Apply provisions of US GAAP for accrual accounting.
• Respond to queries from vendors, units, relating to payments.
• Maintain excellent client rapport and demonstrate client service skills in resolving issues.
